Tax Write Off

[Chris.C]

As some of you know, I travel a bit to play ultimate frisbee (youtube will explain it better than I - example1 and example2).

But I was wondering if I ran an ultimate frisbee website would I be able to write off my expenses of travelling to the various tournaments if I did a write up of each tournament and posted it on the site or something?

Or would I only be able to write off the expense against the profits from the frisbee site?

 

[geodomains]

Chris this would be a smart move, that's why we are all in business.
Don

 

[Link]

Don answered the tax side of your question. I wanted to comment on the other pare - it's not often that Ultimate Frisbee comes up in discussion - especially in Australia! American friends introduced me to the game.

I'm a huge ultimate fan but don't play in any proper games. Are you with a league or association? Teaching the kids to throw a frisbee at the park is about as good as it gets for me right now!

 

[James]

Just like if you work in search marketing you can claim a percentage of a visit to a overseas conference which is in search marketing related.

 

[Chris.C]

Chris this would be a smart move, that's why we are all in business.
Don

Ugh, wish I'd thought of this sooner.

Would there be any way to recoup some of the $25,000 of already "sunk investments" relating to previous frisbee travelling and tournament play?

I wanted to comment on the other pare - it's not often that Ultimate Frisbee comes up in discussion - especially in Australia! American friends introduced me to the game.

I'm a huge ultimate fan but don't play in any proper games. Are you with a league or association?

There are popular leagues all around Australia. The official site of the sport is www.afda.com and there should be redirects to the state associations.

As for me, in Brisbane I play in the Brisbane Premier League (which is the elite mens league). At Nationals I play with the Brisbane Firestorm team.

And whilst I'm not meant to be talking about it (the official announcement isn't until Monday), as some of you know from last Fridays drink catch up, I flew down to Canberra last weekend for the selection camp to try an make the team representing Australia in Seattle in August.

I found out Monday that I made the team. Yay!



Very excited.

 

[neddy]

And whilst I'm not meant to be talking about it (the official announcement isn't until Monday), as some of you know from last Fridays drink catch up, I flew down to Canberra last weekend for the selection camp to try an make the team representing Australia in Seattle in August.

I found out Monday that I made the team. Yay!



Very excited.

Good on you Chris! Great achievement.

Did Don tell you (at the catch up) that he represented Australia in "pocket billiards"?

 

[Chris.C]

Did Don tell you (at the catch up) that he represented Australia in "pocket billiards"?

No he didn't mention it!



He left to go play squash pretty early and before I had to leave which was when I mentioned I was flying to Canberra that afternoon.

That's pretty impressive though! So many people play billiards. No doubt it's very tough to make the Australian billiards team.

 

[Shane]

I can't recall the exact wording, but to legitimately claim a deduction there has to be a reasonable expectation of the business making a profit. If you're claiming $25,000 worth of expenses against a website that makes $1,000 per year, I think you'll struggle to convince the ATO in the event of an audit.

And yes, you can only claim expenses against the business that it relates to. You can't claim business expenses against PAYG, investment, or other unrelated income.

 

[paz]

I believe this kind of thing is the reason Jon Chow used to do a blog post about every meal he had...to claim it as an expense

He had a "personal" blog that made much more than his meals cost though...